A group of major banks; UBS, Deutsche Bank, Santander and BNY Mellon, as well as the broker ICAP, have teamed up to develop a new form of digital cash that will help to set an industry standard to clear and settle financial trades over a distributed ledger.

In September 2015, Bitcoin Magazine reported that UBS was working on a prototype virtual currency to be used by banks and financial institutions as a basis to settle mainstream financial markets transactions. UBS, a Swiss global financial services company with its headquarters in Basel and Zürich, is the biggest Swiss bank and is considered the world’s largest manager of private wealth assets, with more than 2.2 trillion Swiss francs (CHF) in invested assets. Now, UBS has joined forces with Deutsche Bank, Santander, BNY Mellon and ICAP to propose the USC to central banks, aiming for its first commercial launch by early 2018.
Quatre autres méga-banques rejoignent l’alliance anti-dollar. Par Simon Black – Le 24 août 2016 – Source sovereignman.com Ça a été rapide.

Yesterday I told you how a consortium of 15 Japanese banks had just signed up to implement new financial technology to clear and settle international financial transactions. This is a huge step. Right now, most international financial transactions must pass through the US banking system’s network of correspondent accounts. This gives the US government an incredible amount of power… power they haven’t been shy about using over the last several years. 2014 was one of the first major watershed moments when the Obama administration fined French bank BNP Paribas $9 billion for doing business with countries that the US doesn’t like– namely Cuba and Iran. It didn’t matter that this French bank wasn’t violating any French laws. Nor did it matter that only months later the President of the United States inked a sweetheart nuclear deal with Iran and flew down to Cuba to attend a baseball game with his new BFFs.

BNP had to pay up. .
$9 billion hurt. And they’re right. They wouldn’t.
Barack Obama may have finally destroyed America’s #1 advantage – Sovereign Man. In July 1944, just weeks after the successful Allied invasion of Normandy, hundreds of delegates from around the world gathered in Bretton Woods, New Hampshire to determine the future of the global financial system.

The vision was simple: America would be the center of the universe, and every other nation would revolve around the US. This arrangement ultimately led to the US dollar being the world’s dominant reserve currency which still remains today. Whenever a Brazilian merchant pays a Korean supplier, that deal is negotiated and settled in US dollars. Oil. Coffee. This system provides a huge incentive for the rest of the world to hold trillions of dollars worth of US assets– typically deposits in the US banking system, or US government bonds.